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Oao - Oando Plc - Oando Earnings Forecast For The Second Quarter Ending 30

Release Date: 10/04/2012 13:00:01      Code(s): OAO
OAO - Oando Plc - Oando earnings forecast for the second quarter ending 30      
June 2012                                                                       
Oando PLC                                                                       
(Incorporated in Nigeria and registered as an external company in South         
Africa)                                                                         
External Registration number: RC 6474                                           
Company registration number: 2005/038824/10                                     
Share Code on the JSE Limited: OAO                                              
Share Code on the Nigerian Stock Exchange: UNTP                                 
ISIN: NGOANDO00002                                                              
("Oando" or the "Company")                                                      
OANDO EARNINGS FORECAST FOR THE SECOND QUARTER ENDING 30 JUNE 2012              
In terms of the Listings Requirements and Rules governing listing on the        
Nigerian Stock Exchange, Oando is pleased to provide the following profit and   
loss forecast for the second quarter ending 30 June 2012:                       
All figures in $`millions                                                       
                                    Q2 2012 Forecast                            
Turnover                             1,196                                      
Cost of sales                        (1,065)                                    
Direct contribution                  131                                        
Operating expenses                   (62)                                       
Other operating income/charges       3                                          
Operating profit                     72                                         
Interest payable & similar charges   (25)                                       
Depreciation                         (14)                                       
Profit before tax                    33                                         
Provision for tax                    (11)                                       
Profit after tax                     22                                         
                                                                                
The earnings forecast are prepared in compliance with Nigerian Statement of     
Accounting Standards (SAS) translated to US Dollars ($).                        
The earnings forecast reported in this announcement has neither been reviewed   
nor reported on by the auditors of the Company.                                 
10 April 2012                                                                   
Sandton                                                                         
JSE Sponsor                                                                     
Macquarie First South Capital (Proprietary) Limited                             
OANDO PLC -                                                                     
EARNINGS FORECAST FOR THE SECOND QUARTER ENDING 30 JUNE 2012                    
KEY ASSUMPTIONS                                                                 
                                                                                
1   Exchange Rate NGN/$  - Interbank           160                              
2   Annual Consumer Inflation Rate (Year on    11.1%                            
Year)                                                                        
3   Average borrowing rate                     17.5%                            
4   Average selling price per barrel of crude  $110/barrel                      
5   Average selling price per standard cubic   NGN31.15/scm                     
meter (scm)of natural gas                  ($5.66/mscf)                      
6   Average selling price per litre of         NGN97/litre                      
   Premium Motor Spirit (PMS)                 ($0.61)/litre)                    
7   Average selling price per litre of         NGN153/litre                     
Automotive Gas Oil (AGO)                   ($0.96/litre)                     
8   Average operating day rate for swamp rigs  $101,401/day                     
9   Average efficiency rate for swamp rigs     95%                              
10  Tax Rate - Company Income Tax              30%                              
11  Tax Rate - Education Tax                   2%                               
12  Tax Rate - Petroleum Profit Tax            50%                              
Date: 10/04/2012 13:00:01 Supplied by www.sharenet.co.za                     
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